Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. humphrey contractor purchased a customized equipme

humphrey contractor purchased a customized equipment in jan 1, 2017 for 620,000. the manufacturer warranted...

90.2K

Verified Solution

Question

Accounting

humphrey contractor purchased a customized equipment in jan 1, 2017 for 620,000. the manufacturer warranted the equipment for six years. Humphrey used double-declining balance depreciation with a useful life of eight years and no salvage value. After two full years, he now believes that the equipment will only last a total of five years. Compute his depreciation expense for 2019 if he switches to straight-line depreciation.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

3. The percentage discount offered by suppliers if the customer or buyer pays early is known...

Medical Sciences
1.2K views

Please explain primitive and adaptive refexes in your own words?

Psychology
1.2K views

Discuss the role of the friends and family in an individual’s life. (80-100 words)

Physics
1.2K views

I have done the first part of this problem, but I cannot figure out the second...

Basic Math
1.2K views

removes reduces defers or adjusts the tax liability O Tax sheltered Investments O Tax reduction...

Basic Math
1.2K views

Single Over 0 But not over The tax is 7 825 7 825 31 850...

Algebra
1.2K views

Multiply (8 +8i)(7 + i).(8 +8i)(7 + i) = _______(Simplify your answer. Type your answer...

Accounting
1.2K views

Sixty futures contracts are used to hedge an exposure to the price of silver. Each...

Accounting
1.2K views

The following information is for X Company's two products - A and B: Product A...

Accounting
1.2K views

After the first closing entry to close revenue accounts has been posted, what is the...

Finance
1.2K views

A borrower takes out a loan of $2000 for two years. Construct a sinking fund...

Accounting
1.2K views

Thank u On August 1, Cullumber, Inc. exchanged productive...